The Central Bank of Nigeria (CBN) has announced the cessation of the RT200 rebate scheme and the Naira4Dollar remittance scheme, with effect from June 30.
The apex bank announced the development in a circular issued on Wednesday and signed by Angela Sere-Ejembi, director, financial markets department.the general public of the following immediate changes to operations in the
Nigerian Foreign Exchange Market: Cessation of RT200 Rebate Scheme and the Naira4Dollar Remittance Scheme, with effect from 30 June 2023,” the circular reads in part.established to stimulate non-oil exports with a $200 billion FX income target in the next three to five years.
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